First Solar, Inc. (NASDAQ:FSLR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of First Solar, Inc. (NASDAQ:FSLR) have earned a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $277.75.

Several research firms have issued reports on FSLR. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Royal Bank of Canada reduced their price target on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Bank of America decreased their price objective on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded First Solar to a “hold” rating in a report on Tuesday, November 5th. Finally, Barclays lowered their target price on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th.

Hedge Funds Weigh In On First Solar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV grew its holdings in shares of First Solar by 14.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after purchasing an additional 45 shares in the last quarter. Davis Investment Partners LLC boosted its stake in First Solar by 0.6% during the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after buying an additional 46 shares in the last quarter. Gilman Hill Asset Management LLC increased its holdings in First Solar by 2.8% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after buying an additional 50 shares during the period. Covestor Ltd raised its stake in shares of First Solar by 6.4% in the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after buying an additional 55 shares in the last quarter. Finally, Field & Main Bank lifted its holdings in shares of First Solar by 4.1% during the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after acquiring an additional 55 shares during the period. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $189.24 on Monday. The company has a 50-day moving average of $191.64 and a 200-day moving average of $211.08. The firm has a market cap of $20.26 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 0.35 and a beta of 1.49. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar has a twelve month low of $135.88 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.50 earnings per share. Analysts forecast that First Solar will post 13.15 earnings per share for the current fiscal year.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.